Saab Buyer to Be Announced This Week

Here we go again: General Motors is apparently planning to announce the new Saab owner as soon as this week, a report by the Financial Times states, confirming that the battle for the Swedish manufacturer is now down to three parties: Koenigsegg, Renco - mostly known for reviving the producer of the Humbee military vehicles - and a third joint venture comprising investors from the US State of Wyoming.

Media sources are also claiming that Fiat, the recently defeated company who lost the battle with Magna over the acquisition of Opel, is also interested in taking over the Swedish unit but details are still unclear in this case.

What's interesting is that Saab earlier this month confirmed the battle for the controlling stake has came down to only two bidders but refused to unveil their names.

"Now we are negotiating with just two parties," Jan-Ake Jonsson told Dagens Industry. "This can go fast now and should absolutely be wrapped up in a maximum of two weeks," he said, adding that a letter of intent may be signed by mid-June.

And things are even more complex than that. Saab said in late May that three investors have expressed their interest in taking over the company, hinting that there might be some truth behind those reports claiming that Koenigsegg, Renco and Fiat plan to buy it.

"Among these interested parties, three have been selected to continue negotiations on an acquisition of Saab," the company said in the document. "These negotiations will be carried out during the remainder of May in order to select the final candidate."

So, we got three, then two, now three again. Let's just hope that the battle will finally come down to only one whose identity is, as we said, expected to be revealed this week.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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